By Jeremy Cook, World First
This data release highlights the problems that Britons are currently facing in a nut shell. Levels of disposable income have fallen to the lowest since 1987 as inflation bites at wage packets whilst savings ratio falls have shown that people are using life savings to keep their heads above water.
Whether the UK entered a double-dip or, as today’s numbers show, it didn’t matters little to the man on the street who is seeing large falls in real term wage growth as a result of the lack of business output.
Sterling has fallen in the aftermath of this announcement, and although this data is 3 months old and could be considered stale, the lack of real improvement since leaves the government and the new Bank of England Governor a lot to do.”